The Microfinance potential in India is immense but considering the socio- economic & political influence, the requirement for an association for the MFIs to come together under one roof was very important. MFIN has provided an excellent platform for Micro Finance companies to come and synergise together for a better India.
Going forward we would like to see MFIN actively involve itself in putting up a framework for generally accepted Microfinance principles across all partners / non-partners.Siddharth Pradeep Sharma,National Manager | Retail Microfinance, Axis Bank
More power to MFIN!!!!
MFIN rolled out its Associateship programme in January 2014. This was done with the understanding that stakeholders other than NBFC-MFIs who have a lasting bearing on the financial inclusion dialogue and are of immense value to the sector need to interact and work with each other to fuel the larger goal of financial inclusion. The Associates are a valuable part of MFIN’s construct and there is a constant dialogue with them at various forums including at the state and district levels. MFIN includes the following institutions in its Associateship programme – Banks, NBFCs, Housing Finance Companies, Insurance Companies, Business Correspondents, Private Equity Social Investors, Think Tanks and Foundations.
Associate Subscription Fee
- One time Application Fee : INR 51,000
- Subscription fee Structure
|Associate category||Subscription Fee (INR)|
|Small Finance Banks||10,00,000|
|Banks – All scheduled Commercial Banks (SCBs), State Cooperative Banks an Regional Rural Banks||6,00,000|
|NBFCs – (direct lending)||6,00,000|
|NBFCs – (whole sale)||5,00,000|
|Housing Finance Companies – NHB recognized||5,00,000|
|Private Equity Social Investors – All investors VC/PE funds approved by SEBI||5,00,000|
|Credit Bureaus – RBI recognized||2,00,000|
|Clean Energy Companies||2,00,000|
|Fintech & Telecos Companies||2,00,000|
|DFIs – Domestic and International. Bilateral and multilateral agencies||2,00,000|
|Rating agency – RBI recognized credit rating agencies||1,00,000|
|Think Tanks – National & International think tanks engaged in economic & banking policy issues including financial inclusion||1,00,000|
|Foundations – Domestic & International||1,00,000|
|Banking Correspondents – All recognized BCs of SCBs||1,00,000|
|Reference for Assocaite Application Form||Download|
List of Associates
- ASA International India Microfinance Pvt. Ltd.
- Au Financiers (India) Ltd.
- Axis Bank
- Bajaj Allianz Life Insurance Company Ltd.
- BASIX Sub-K iTransactions Ltd.
- BSS Microfinance Pvt Ltd.
- Caspian Impact Investments Pvt. Ltd.
- Community Finance Pvt. Ltd.
- Credit Information Bureau (India) Ltd.
- D.light Energy Private Limited
- Equifax Credit Information Services Pvt. Ltd.
- ESAF Small Finance Bank
- Fincare Small Finance Bank
- Fullerton India Credit Co. Ltd.
- IDFC Bank Ltd.
- IFMR Capital
- IndusInd Bank Ltd.
- Kamal Fincap Private Limited
- MAS Financial Services Ltd.
- Motilal Oswal Investment Advisors Private Limited
- New Opportunity Consultancy Pvt. Ltd.
- RBL Bank
- Reliance Capital Ltd.
- Sarvodaya Nano Finance Ltd.
- Sumeru Software Solutions Pvt. Ltd.
- Suryoday Micro Finance Pvt. Ltd.
- Swadhaar Finserve Pvt. Ltd.
- Tata Capital Financial Services Limited
- Ujjivan Financial Services
- Utkarsh Micro Finance Limited
- Vodafone m-pesa Ltd.
- YES Bank